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Todd Pruzan, HBR
Welcome to the HBR Video Quick Take. I’m Todd Pruzan, senior editor for research and special projects at Harvard Business Review. Emerson, the global technology, software, and automation leader is not only accustomed to change; the business thrives on it. The company’s recent strategic moves, ambitious commitments, and leadership evolution all demonstrate its focus on advancing progress.
Today, I’m excited to speak with Lal Karsanbhai, Emerson’s president and CEO, about the importance of change, the value of surrounding yourself with the right people, and the power of purpose. Lal, thanks for being here today.
Lal Karsanbhai, President & CEO
Thank you, Todd. Really nice to be here with you.
Todd Pruzan, HBR
Lal, when you consider your approach to leadership, what are the top three areas you like to focus on?
Lal Karsanbhai, President & CEO
It’s a great question, Todd. I’ll answer that through what I believe is the most important role that I have as CEO of Emerson, which is nurturing talent, the ability of our company to attract and retain the best. And with those things in mind, I think about three really important dimensions of leadership.
The first is trust and empowerment. The second is accountability. And the third is inclusion. And together, all three create a culture that will foster innovation, that will foster the ability of people to perform in roles and value creation.
Todd Pruzan, HBR
Great. So, Lal, how have you evolved as a leader in your role as the CEO of Emerson?
Lal Karsanbhai, President & CEO
Leadership is not about the individual. Leadership is about the team. And I have firmly believed from a very young age, when I first managed, that it’s important to surround oneself with the best, a team that can execute at a very high level, perform at a very high standard, but also where the summation of that team is greater than the summation of each individual.
Over 90% of the challenges that Emerson faces on a daily basis I never hear about. The team performs. The team executes. And that gives me a lot of time. It gives me time to think about strategy, to think about the portfolio, M&A, and, of course, the organization.
Todd Pruzan, HBR
Great. So having the right team in place is vital. Lal, as all difficult times do, the pandemic era that we’re living in has shone a spotlight on leaders and leadership. What have you learned over the past few years about yourself and about your approach to leading and navigating change through these challenging times?
Lal Karsanbhai, President & CEO
Yeah, you’re absolutely right, Todd. We live in unprecedented times, not just through the pandemic but now through the many social issues that we have across society and the world. I think, to begin with, values matter. It’s important for a company to set values and use them as the North Star for how we communicate and how we navigate through the challenges.
The second is we have to listen to the organization. The voices are important. We have to be ready to debate. But the listening is incredibly important across the entire enterprise.
And third, as we learned multiple times now, is agility. We need to be agile. We need to be willing to think differently, to challenge work processes, things we’ve done in the past, and adapt for the environment that we’re in.
Todd Pruzan, HBR
That’s a great point. That’s a great point. We’ve just talked a bit about how you’ve navigated change and how you’ve grown as a leader throughout your career. So just to flip that question, how have you stayed the same throughout your career?
Lal Karsanbhai, President & CEO
A few things I can share with you, Todd. I’m a tough leader. I’ve been tough. But I’ve always been respectful—respectful of people, respectful of the organization. I don’t think that’s changed.
Number two, I think it’s important for leaders to not defer decision making. It’s important to listen. But it’s important to pull the trigger. There are diminishing returns in information. And at times, it can be uncomfortable for leaders to make decisions with imperfect information. But an organization is better off with a decision that can be ultimately, perhaps, corrected over time and to move forward in a direction.
Number three, above all, it’s incredibly important to stay true to the vision and the strategy and for the organization as a whole to live our purpose. And that purpose is really driving innovation that makes the world safer, healthier, smarter, and more sustainable.
Todd Pruzan, HBR
So, staying decisive, staying respectful, staying true to the vision, all great points. Lal, thank you so much for your conversation today and for all of your insights.
Lal Karsanbhai, President & CEO
Thank you, Todd. Good to be with you.
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